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Apartments under $500 for Rent in Minneapolis, MN

33 Rentals
  1. Building Photo - Northstar Dinkytown
    2 BEDS
    $474+
    3 BEDS
    $452+
    4 BEDS
    $363+
    5 BEDS
    $379+
    Plus Fees - 12 Month Lease

    Northstar Dinkytown

    1611 8th St SE, Minneapolis, MN 55414

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Living & Renting in Minneapolis

Minneapolis at a Glance

Average Rent

$1,391
(All bedrooms and property types)
Learn more about
Average Rent in Minneapolis
6

School Rating

out of 10 Rating
Learn more about
Schools in Minneapolis
52

Some Transit

out of 100 TransitScore® Rating
Learn more about
Transportation in Minneapolis
83

Somewhat Bikeable

out of 100 BikeScore® Rating
Learn more about
Transportation in Minneapolis

Minneapolis, MN Apartments for Rent

Minneapolis stretches across both banks of the Upper Mississippi River and earned its nickname as the "City of Lakes" with thirteen lakes scattered throughout the metro area. If you're hunting for apartments for rent in Minneapolis, you'll discover a city that balances Midwestern friendliness with metropolitan perks—including the famous downtown skyway system that connects buildings on the second floor, so you can stay warm and dry during those Minnesota winters.

Renting in Minneapolis means choosing from neighborhoods that each bring their own character. The artsy Northeast area features charming Craftsman-style apartment communities, while Uptown puts you steps from several lakes. Looking for something more industrial-chic? The North Loop serves up converted warehouse lofts within walking distance of downtown employers. Getting around is easy with the METRO Blue and Green Lines, plus miles of bike trails that connect to the Grand Rounds National Scenic Byway. Between the University of Minnesota campus energy, major employers like Target and 3M, and more theater seats per capita than anywhere except NYC, Minneapolis delivers both affordability and culture for renters.

Why Minneapolis?

  • The University of Minnesota - one of the nation's largest universities.
  • Headquarters of many Fortune 500 companies
  • A 6,800-acre system of 22 lakes, over 180 parks, and 55 miles of biking and walking paths.
  • Shopping at the Ancient Traders Market for Native American art.
  • A walkable downtown with eight miles of glass-enclosed skyways.
  • Major sports teams include the NFL Minnesota Vikings and the MLB Twins.

Renting in Minneapolis

Average Rental Rates and Apartment Sizes

Top Budget-Friendly Neighborhoods in Minneapolis

(For 1 bedroom apartments)

Getting Around Minneapolis

Transportation

75

Very Walkable

out of 100 WalkScore® Rating
You might be able to get out and walk when living in this area. Some errands can be accomplished on foot, but for others you need a car.
83

Very Bikeable

out of 100 BikeScore® Rating
You might be able to find places to ride your bike in this area, but you'll most likely want your car for most errands.
52

Good Transit

out of 100 TransitScore® Rating
You'll likely want a car when living in this area since it has few transit options.
Scores provided by Walk Score

Education

Private University
Public University
Private University
Public University
GreatSchools Rating

Public High School

Public
Grades 9-12
1,582 Students
GreatSchools Rating

Public High School

Public
Grades 9-12
1,484 Students
GreatSchools Rating

Public High School

Public
Grades 9-12
1,466 Students
GreatSchools Rating

Public High School

Public
Grades 9-12
339 Students
GreatSchools Rating

Public High School

Public
Grades 9-12
1,044 Students
GreatSchools Rating

Public Middle School

Public
Grades 6-8
763 Students
GreatSchools Rating

Public Middle School

Public
Grades 6-8
925 Students
GreatSchools Rating

Public Middle School

Public
Grades 6-8
738 Students
GreatSchools Rating

Public Elementary School

Public
Grades K-5
468 Students
GreatSchools Rating

Public Elementary School

Public
Grades K-5
315 Students
GreatSchools Rating

Public Elementary School

Public
Grades K-5
371 Students
GreatSchools Rating

Public Elementary School

Public
Grades K-5
365 Students

Data provided by GreatSchools.org 2025 © 2025. All rights reserved.

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